1923 Horseblanket Silver Certificate

That was the last large-size U.S. $1 bill.  It measures about 7-3/8 by 3-1/8 inches, or about 50 percent larger than todays paper currency.

It was replaced with the Series of 1928 $1 Silver Certificate that was the size of todays paper currency. The note is so large that it was known as a horse blanket large enough to cover a horse!

The Silver Certificate features a blue Treasury seal and blue serial numbers on the front, which gives it a very different appearance from todays Federal Reserve Notes that have green details. When this note was issued in the 1920s, each $1 Silver Certificate was backed by an actual Morgan Silver Dollar or Peace Silver Dollar in the U.S. Treasury. The bearer of the note could, by law, exchange it on demand at the Treasury for the Silver Dollar. Due to it being worth a Silver Dollar, the Silver Certificate helped the American public accept paper money because it was worth the same as a Silver Dollar. At this time, Silver Certificates circulated along with other types of paper currency such as U.S. Notes and Federal Reserve Notes. Today, only Federal Reserve Notes circulate.

The front features a portrait of George Washington based on a portrait by Gilbert Stuart. Most horse blanket Silver Certificates were worn out in circulation long ago or were destroyed by the U.S. government when the small-size notes were introduced.